Empowering Women for Economic Growth: Lessons and Strategies
The role of women in Vanuatu's future economy is highlighted in Session 5, emphasizing the economic benefits of gender equality. Insights from global examples underscore how closing the gender gap leads to enhanced economic efficiency. Practical approaches such as Gender-Sensitive Budgeting and Gender Equality Certification are discussed, showcasing successful initiatives from Sweden, APAC, Ethiopia, and Ghana. Private sector leaders are encouraged to reevaluate gender equality within their organizations to further progress.
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PROGRAM DAY 2 Session 5: Closing the gap the important role women can play in Vanuatu s future economy Lisa Dinh Consultant and VCCI Council member for Tourism
Session 5: Closing the gap the important role women can play in Vanuatus future economy What we can learn from countries far and wide Gender equality is not about generosity but about economy International Monetary Fund Research : Woman and Growth- 2019 If women employment equalled men s, GDP could increase by 35%, of which 8% are productive gains due to gender diversity. More women in the labour force => More economic growth Adding one more women in a firms senior management, while keeping the size of the board unchanged, is associated with an 8-to-13 basis point higher return on assets. More women on boards => more diversity in decision making => More balance => More performance
Session 5: Closing the gap the important role women can play in Vanuatus future economy What we can learn from countries far and wide If women farmers had the same access to more productive resources, such as land and fertilizer, agricultural output could increase as much as 8% More equipped women farmers, better agricultural production More women at local level politics [in India] led to greater provision of public goods such as water & sanitation which matter more to women More woman in politics, more sustainable infrastructure Closing the gap leads to ECONOMIC EFFICIENCY both in the private and the public sector
Session 5: Closing the gap the important role women can play in Vanuatus future economy What we can learn from countries far and wide Examples from the world: Gender Equality Certification for companies/ Sweden Climate Change Projects: Gender considerations for resilience/ APAC Systematic Gender Focal Point in each Ministries/ Ethiopia and Ghana Gender-Sensitive Budgeting as part of their national budgeting process o An approach used by governments to ensure that budget allocations and governmemt expenditures take into account the priorities of different genders. o Morocco, South Africa, Phillipines
Session 5: Closing the gap the important role women can play in Vanuatus future economy TO MY PRIVATE SECTOR COLLEAGUES You might think that you ve achieved gender equality in your organization but: What share of women do you have in management positions? What stereotypes to women in the workplace still prevail? o Women are bossy but Men are decisive o Women are emotional but Men are under pressure o She slept her way to the top versus He withheld promotion until he got favours How safe is your work environment for women? o Do you have a harassment policy where a women can safely report incidents? o Are the women in competion, or do they have each others backs With Vanuatu s current labour shortage, companies no longer have the choice but to create OPPORTUNITIES, PROMOTIONS and BALANCE
Session 5: Closing the gap the important role women can play in Vanuatus future economy TO OUR POLICYMAKERS Woman have less chances of finishing high school education, less career opportunities, more barriers to start their business 3/ ENTREPRENEURSHIP 2/ POLICIES o Participation in decision making bodies o Equality on property rights o Domestic violence to counter absenteeism 1/ INFRASTRUCTURE o Access to education o Adequate sanitation has narrowed gaps in education in India o Safe transport has increased access to labour force in Mexico o Breakdown Leadership stereotypes o Valorisation of housework o Access to finance
Session 5: Closing the gap the important role women can play in Vanuatus future economy What we can learn from countries far and wide o Leaders: Can we talk about sustainability if we do not include the voices of 50% of the population? o Women represent 50% of Vanuatu s population and their voice is only getting louder. o Gender mainstreaming is everywhere: corporate world, sports, even in international funding! o You can ignore women, but your competitors are not.
Session 5: Closing the gap the important role women can play in Vanuatus future economy What we can learn from countries far and wide BE A SMART LEADER IMF has proven that not empowering women is a missed opportunity for your productive network to grow If not for ethical and moral reasons, promote gender equality for o MARKET SHARE, COMPETITIVE ADVANTAGE and PROFITABILITY o FEMALE VOTES, GOVERNMENT INCOME, and GROWTH PROMOTE INCLUSION FOR ECONOMIC SENSE
